UPDATE: MetLife Institutional To Sell Floating-Rate Notes
March 29 2011 - 3:14PM
Dow Jones News
MetLife Institutional Funding II said it would sell a $1 billion
offering of floating-rate notes on Tuesday.
The three-year issue is expected to be sold in the
private-placement Rule 144a market later this session via sole
bookrunner Barclays Capital.
The deal was launched with a risk premium of 90 basis points
over the three month London Interbank Offered rate, directly in
line with preliminary pricing guidance.
Proceeds will be used for general corporate purposes, which
could include the repayment of outstanding debt securities.
The deal has been rated Aa3 by Moody's Investors Service and AA-
by Standard & Poor's.
-By Kellie Geressy-Nilsen; Dow Jones Newswires; 212 416-2225;
kellie.geressy@dowjones.com
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